July 10 (Reuters) - Canada's Rogers Communications
has put The Shopping Channel up for sale and received interest
from foreign buyers for the television asset that may fetch over
C$300 million ($237 million), according to three people familiar
with the matter.

The move fits into a refreshed strategy at Rogers, which
hired a chief executive with a reputation as a turnaround artist
in late 2013, as it tries to shake up its corporate culture and
stem declines in its wireless and cable divisions, the company's
biggest sources of revenue.

Rogers, which started the process about six weeks ago, has
received the first round of bids and is currently lining up
second round bids, the sources said.

Liberty Interactive is one of the bidders, said one
of the sources. Other interested parties could include U.S. home
shopping channel operators HSN and EVINE Live,
which runs ShopHQ, as well as private equity firms.

Rogers could still decide not to go ahead with the sale if
the economics were not favorable, the sources said.

While several foreign players have shown interest, Canadian
regulations could block a sale of a controlling interest in the
asset to a foreign entity, said multiple sources familiar with
the matter.

One source familiar with the asset said a foreign buyer
could acquire a majority equity stake in the asset, so long as a
Canadian entity is deemed to have majority voting control in the
asset, and as long as the operating entity in Canada is headed
by a Canadian.
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